Slide 1: Investor Presentation May 2026
SupremeX (TSX: SXP.TO) INVESTOR PRESENTATION MAY 2026 1
Slide 2: Forward Looking Information and Non-IFRS Financial Measures
Forward Looking Information and Non-IFRS Financial Measures • This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings
Slide 3: SupremeX at a Glance
SupremeX at a Glance Envelope #1 in Canada Packaging #1 Independent folding carton Top 3 in North America(1) provider in Quebec(1) PACKAGING: LTM REVENUE March 31, 2026 ~32% ENVELOPE: $279M ~68% (1) Based on Management estimates SupremeX is a leading North American manufacturer and marketer of envel
Slide 4: Growing By Acquisition for Nearly 50 Years
Growing By Acquisition for Nearly 50 Years • Founded in 1977 by four envelope industry executives • Acquired by private equity in 1990; sold to Cenveo in 1995; IPO in 2006 Focused on envelope manufacturing in Canada Diversifying by geography & product 1991 1994 1996 1998 2000 2001 2007 2008 2010 201
Slide 5: The Envelope Segment - Overview
The Envelope Segment - Overview The Company utilizes an industry leading equipment base and platform to manufacture a broad range of stock and custom envelopes. LTM Revenue Regional Revenue Key Points SupremeX Edge March 31, 2026 Distribution(1) • Optimal geographical network National footprint & lo
Slide 6: The Envelope Segment – North American Market in Secular Decline
The Envelope Segment – North American Market in Secular Decline Through internal growth and acquisitions, Supremex is now one of the three largest manufacturers in North America Canadian Envelope Market U.S. Envelope Market Market Size –Sales $125M(1) US$2.0B(2) Competitive Landscape • SupremeX is a
Slide 7: The Packaging Segment - Overview
The Packaging Segment - Overview The Company manufactures and distributes a diverse range of packaging and specialty products including high-end folding carton packaging, e-Commerce fulfillment packaging solutions and labels. LTM Revenue End-market Approximate Key Points SupremeX Edge March 31, 2026
Slide 8: The Packaging Market is Growing
The Packaging Market is Growing Growing e-commerce activity and sustainability trends support the expansion of paper packaging Paper Packaging Folding Carton Boxes Largest subsector with an estimated 2025 share of 35.4%(1) of the global Market Size Global folding carton packaging market valued at US
Slide 9: Executing on a Three-Pronged Growth Strategy
Executing on a Three-Pronged Growth Strategy Leverage our Envelope capacity, knowhow and cash flow to fund the pivot to packaging 1 2 3 Maintaining its leading Pursuing growth opportunities Building Supremex’ packaging position in the Canadian in the U.S. envelope market capabilities organically and
Slide 10: Maintaining Market-Leading Position in Canada and Diversifying in the U.S.
Maintaining Market-Leading Position in Canada and Diversifying in the U.S. Manage the secular decline in the Envelope segment by maintaining EBITDA and strong cash flow generation 1. Maintain Leading Position in Canada 2. Diversify into the U.S. Market • Have a disciplined approach to pricing • Take
Slide 11: Diversifying into Paper-Based Packaging in Canada & the U.S.
Diversifying into Paper-Based Packaging in Canada & the U.S. Accelerate diversification into high-value growth markets and execute pivot to Packaging 3. Diversify into Paper-Based Packaging Focus on 3 Pillars of Growth MAKE ACQUISITIONS TO DEVELOP SCALE FOLDING CARTON • Build capacity closer to the
Slide 12: Q1-2026 Results
TSX: SXP.TO Q1-2026 RESULTS INVESTOR PRESENTATION May 2026 12
Slide 13: Q1-2026 Highlights & Recent Events
Q1-2026 • Revenue of $74.8M, up 6.6% from $70.2M last year. Highlights & • Adjusted EBITDA(1) of $9.9M (13.2% of revenue), vs. $8.8M (12.6% of Recent Events revenue) last year. • Net earnings of $0.8M ($0.03 per share), vs. $1.9M ($0.08 per share) last year. • Adjusted net earnings(1) of $1.9M ($0.0
Slide 14: Revenue Overview
Revenue Overview Revenue (M$) Y/Y Variance Analysis Highlights $74.8 Envelope: $70.2 (+) New customer wins and share of wallet growth (M$, except %) Envelope Packaging TOTAL in the US 24.0 21.8 Q1-25 (+) Higher volume from acquisitions of Enveloppe 48.4 21.8 $70.2 Laurentide and Elite Envelope Reven
Slide 15: Adjusted EBITDA and Net Earnings
Adjusted EBITDA(1) and Net Earnings Adjusted EBITDA (M$)(1) & Margin (%)(1) Net Earnings (M$) & Margin Highlights 15.0 20.0% $4.0 Envelope: $8.8 $9.9 (+) Effect of higher volume on the absorption of fixed costs $3.0 10.0 3.3 3.7 15.0% (+) Higher average selling prices 12.6% 13.2% $1.9 Packaging: $2.
Slide 16: Net Earnings and Adjusted Net Earnings
Net Earnings and Adjusted Net Earnings(1) Net Earnings (M$) & EPS Adjusted Net Earnings(1) (M$) & Adjusted EPS(1) Q1 Elements $4.0 $4.0 2026: $3.0 $3.0 - Restructuring expenses related to the closure of the $2.2 Indianapolis Envelope $2.0 $1.9 $1.9 $2.0 facility $0.8 $0.09 2025: $1.0 $0.08 $1.0 $0.0
Slide 17: Cash Flow from Operating Activities and Free Cash Flow
Cash Flow from Operating Activities and Free Cash Flow (1) Net Cash Flow Related to Operating Activities (M$) Free Cash Flow(1) (M$) Highlights $12.0 $12.0 Cash flow from operating activities: $9.0 (-) Working capital requirement in $9.0 $7.0 Q1-2026, as opposed to a $6.8 release in Q1-2025 $6.0 $6.
Slide 18: Solid Financial Position
Solid Financial Position Total Debt (M$) Net Debt to Adjusted EBITDA Ratio (1) Highlights 50.0 2.00x 40.6 1.80x • Significant debt Sale-leaseback 40.0 38.0 Sale-leaseback 1.60x 38.7 reduction in Q3-2025 (in millions of $, except ratios) 35.5 38.4 1.40x 33.8 31.0 following sale- 38.4 30.0 1.20x 35.4
Slide 19: Outlook
Outlook Positive factors • Stronger financial position following the completion of sale-leaseback transaction in July 2025 • Strong team, broad product offering, geographical diversification, solid supplier relationships Short-term concerns • Current economic volatility, ongoing trade uncertainty, p
Slide 20: Appendix
TSX: SXP.TO APPENDIX INVESTOR PRESENTATION May 2026 20
Slide 21: Q1 Supplemental Information - Summary
Q1 Supplemental Information - Summary Selected Consolidated Financial Information Three-month periods (In thousands of dollars, except for margins) ended March 31 2026 2025 Revenue 74,841 70,228 Operating expenses 53,883 50,848 Selling, general and administrative expenses 11,065 10,695 Operating ear
Slide 22: Q1 Supplemental Information - Segmentation
Q1 Supplemental Information - Segmentation Segmented Information Three-month periods (in thousands of dollars, except %) ended March 31 2026 2025 Segmented Revenue Envelope 50,852 48,416 Packaging & specialty products 23,989 21,812 Total revenue 74,841 70,228 Segmented Adjusted EBITDA(1) Envelope 8,
Slide 23: Non-IFRS Financial Measures
Non-IFRS Financial Measures Non-IFRS Measure Definition EBITDA represents earnings before net financing charges, income tax expense, depreciation of property, plant and equipment and right-of-use assets and amortization of intangible assets. EBITDA The Company uses EBITDA to assess its performance.
Slide 24: Reconciliation of Non-IFRS Financial Measures
Reconciliation of Non-IFRS Financial Measures Reconciliation of Net earnings to Adjusted EBITDA Three-month periods (In thousands of dollars, except for margins) ended March 31 2026 2025 Net earnings 785 1,920 Income tax expense 1,455 801 Net financing charges 1,483 1,057 Depreciation of property, p
Slide 25: Reconciliation of Non-IFRS Financial Measures
Reconciliation of Non-IFRS Financial Measures Reconciliation of Net earnings to Adjusted net earnings and of Net earnings per share to Three-month periods Adjusted net earnings per share ended March 31 (In thousands of dollars, except for per share amounts) 2026 2025 Net earnings 785 1,920 Adjustmen
Slide 26: Reconciliation of Non-IFRS Financial Measures
Reconciliation of Non-IFRS Financial Measures Reconciliation of Net cash flows related to operating activities to Free cash flow Q1-26 Q1-25 (In thousands of dollars) Net cash flows related to operating activities (832) 6,965 (Acquisitions) net of disposals of property, plant and equipment (1,003) (
Slide 27: Reconciliation of Non-IFRS Financial Measures
Reconciliation of Non-IFRS Financial Measures Net Debt to Adjusted EBITDA ratio Q1-2026 Q4-2025 Q3-2025 Q2-2025 Q1-2025 (in thousands of dollars, except for ratios) Total debt 8,463 4,135 11,691 40,574 37,974 Deferred financing costs (294) (63) (162) (124) (130) Cash (4,042) (3,090) (2,642) (2,056)
Slide 28: Reconciliation of Non-IFRS Financial Measures
Reconciliation of Non-IFRS Financial Measures Reconciliation of EBITDA and Adjusted Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 EBITDA for the past eight quarters 2026 2025 2025 2025 2025 2024 2024 2024 (In thousands of dollars, except for margins) Revenue 74,841 72,917 65,678 65
Slide 29: www.supremex.com
www.supremex.com Head Office investors@supremex.com 7213 Cordner Street Tel: (514)-731-0000 extension 229 LaSalle, Quebec H8N 2J7